disastrous showing the biggest spike in consumer prices in over 40 years that the fed felt the need to move fast here to take a page out of the playbook of alan greenspan and paul volker with a very big interest rate increase, and they signaled that more aggressive steps are to come because that official said they are, quote, strongly committed to getting inflation back down to 2%. and given that it s nowhere near 2% right now, that does imply more big rate increases to come. as far as why this is happening, i think it s important to think about the economy as almost like a car on a highway, and the fed is the driver. when it needs to speed the car up, it will cut interest rates to stimulate demand. right now we have the opposite situation. it s going dangerously fast, and so the fed needs to slow things down. it s actually slamming the brakes on the economy. the problem here, victor, for the fed is if they don t do enough inflation can go out of control. if they do too much,
into bear market territory yesterday. economists predict the fed will raise interest rates again in another attempt to battle rising inflation. cnn business correspondent solomon is here with me now. this ppi report, why should people at home care about this? what s it matter for us? it s interesting because ppi doesn t get as much attention as the consumer price index, but it s really important because it s factory level inflation, what producers are experiencing, and we know what companies are feeling, we ll likely see a few months down the line in terms of consumer prices. even though we did see slight moderation in categories like food, the topline number is troubling because we know after friday s report that there were no signs of moderation, that there were signs of acceleration in inflation and what we have now with this report is a sign perhaps of more pain to come down the road. okay. so, now, tomorrow, expecting this big announcement. on how much, by how much t
the hamas terrorist threat is now in europe. the lead starts now. terrorist attacks foiled as germany and the nethlerlands say they have arrested members of the hamas who planned to attack jewish institutions in europe. an exclusive investigation into the nation s largest credit union, navy federal, revealing an alarming disparity between white and black applicants approved for home loans and those denied. and now in the hands of the jury in the defamation case against rudy giuliani. the two are seeking $43 million in damages for rudy s lies. welcome to the lead, i m jake tapper. we have a lot but we will start with breaking news on the money lead. the dow closing moments ago at a record high for the sk day in a row. let s get straight to vanessa. what is driving this surge and what might it mean for americans wallets? another day, another record. the dow closing up 158 points, beating the record it just set yesterday. yesterday s record was because the fed announced
welcome to one nation, i am thrilled you re watching. tonight is a great one, eric trump, front desantis senator marco rubio the first, our to state the race for the white house, three things we can count on this election season for speculation on whether president biden can or will run, who will emerge from the republican primary battle royal and what charge will be thrown at president donald trump. every time i am indicted i consider it a great badge of honor because i m being indicted for you. the result of these three things are as follows, biden s poll numbers dropped from a primary filled fans and donald trump s chance of winning the election growth. the first two extents, president biden has been an epic fail into many ways especially as of late. tradition for primary filled defendant but how do you explain legal charges helping the campaign? i ll give you my perception, the answer? the perception that this is all political. it s all political, look at the time
welcome to one nation, i am thrilled you re watching. tonight is a great one, eric trump, front desantis senator marco rubio the first, our to state the race for the white house, three things we can count on this election season for speculation on whether president biden can or will run, who will emerge from the republican primary battle royal and what charge will be thrown at president donald trump. every time i am indicted i consider it a great badge of honor because i m being indicted for you. the result of these three things are as follows, biden s poll numbers dropped from a primary filled fans and donald trump s chance of winning the election growth. the first two extents, president biden has been an epic fail into many ways especially as of late. tradition for primary filled defendant but how do you explain legal charges helping the campaign? i ll give you my perception, the answer? the perception that this is all political. it s all political, look at the time